Yes, sure you can make money from crochet, but it's not going to be easy.
Do a few sums and you will realise that there is no way you are going to make a living out of it, just a bit of extra pocket money if that. In order to earn a decent hourly rate you will have to sell your items for far more money than anyone will be prepared to pay - that's if you sell everything you make. Some of it just won't sell. Remember, the competition is huge and you will have to compete with those who don't care if they only get pennies per hour
It is however possible to make a living with a crochet business because there are people out there who actually do it, but probably not necessarily in ways that you might think.
To start with you need to be bold and confident in yourself to make money from crochet. You will need to do things you hate as well as things you love (book keeping and tax returns is one example that springs to mind here). You will need to work long hours and sometimes neglect loved ones. You will need to think laterally. You will need to learn about leverage.
Leverage? Yes, well there are only so many hours in the day. If it takes you 3 days to make a jumper (it can take me 10 times that length sometimes) and you want to earn z amount of money per day then you will not only have to charge 3 times z, but add to that advertising, selling fees, website costs, material costs, income tax, maybe the price of a website, the cost of a stall at a local fair -----
Leverage involves making your time more productive so you make more from doing less.
There are several ways you can do this. You can employ other people, you can charge high prices by promoting your items as super luxury and targeting the rich and you can aim for passive income by selling information products. For instance, books, e-books or patterns once written can be sold again and again for the rest of your life.
A piece of good advice I once heard had to do with the gold rush. Apparently the people who became rich were not those panning for gold, but those who sold the equipment to look for it.
So probably your best bet is to sell crochet equipment. Not necessarily hooks yarn and buttons, but patterns, books and other information. You can do this at Etsy, with some restrictions on Ebay or with your own website like this one.
Here is also some very interesting and telling advice which makes for good reading: crochet business truths
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